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organizing your personal finances to find extra money

Sometimes financial problems can be solved relatively easily. I was struggling to make it from week to week until I learned that some financial organization could change my spending habits. If you can organize your personal finances, you will see exactly where all of your hard earned money goes. You will be shocked to see how much the morning coffee and donuts cost you each month. This blog will provide you with information that can help you get your personal finances organized so that you don't have to continue struggling from paycheck to paycheck throughout each and every month this year.

organizing your personal finances to find extra money

You Can Negotiate Overdraft Fees With Your Bank

by Clémence Moulin

When you have a checking account, all it takes is one dropped decimal point and you can end up with a bounced check and an overdraft fee. That fee can be a bitter pill to swallow. However, you can negotiate with the bank to lessen or even waive that fee. So, how do you do that?

Stay Calm

Think about how you would like to be treated if you were the person on the other side of the phone. You wouldn't want to help someone who was screaming at you. You are much more likely to get what you want if you remain calm and speak politely. It's perfectly fine to take a few minutes to take a deep breath and calm down before you do anything. 

Ask For Reasonable Goals

In this kind of negotiation, asking for more than you want and then settling for what you want isn't in your best interest. For example, if what you want is for them to waive your fees, don't ask for them to waive your fees plus pay the overdrawn charges that still need to be covered. It's easier for your bank to say no to you if you are asking for unreasonable things. 

Escalate the Call

In the world of customer service, escalating the call means sending it up to someone higher up the line. That higher person can generally do things for you that the person answering the phone can't. Don't be afraid to ask the person you are talking to if they will send you to a supervisor. Remember to be polite to the person you are talking to because they will tell their supervisor what is going on. That includes telling the supervisor if you were unwilling to work with them or if you were calm and polite. 

Stand Firm

You can be polite and calm and still be firm. Firm means that you aren't going to say things like "That could work" or "Maybe." Use yes and no, be clear, and stick with your goal of getting your fee waived. 

Negotiating with your bank to get your overdraft fees reduced or waived may not work. For example, if you have a long history of overdrawn checks, they may not work with you. However, you don't know what they will say until you ask, and you have nothing to lose by asking. If they tell you no, then you are in no worse a place than you were before. 

If you decide to switch banks to another bank in your area, contact a bank like Cheviot Savings Bank